EC warns budget not on track due to handouts, advises against further underspend

EconomyProgramme Tags: Budget, EC, Eurogroup, Pensions, Taxes
Photo by MacroPolis
Photo by MacroPolis

Greece’s official creditors have recently expressed at various levels their concerns about whether the country will be able to meet its fiscal commitments after adopting a new batch of expansionary measures last month, so it was no surprise that this issue was explored extensively in the latest post-programme surveillance report published by the European Commission.

The European technocrats acknowledge that over the last few years Greece has managed to significantly over-perform on the fiscal front. Last year, the primary balance under the enhanced surveillance definition reached 4.3 percent of GDP. When factoring ...

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